Poland’s Wibor Survives EU Court Case as Loans Face Scrutiny

Polish banks avoided another potential legal nightmare over mortgages after the European Union’s top court said home owners can challenge the terms of their loans but the Wibor benchmark underpinning them is valid.

Local judges should be able to review Wibor-based loans under EU consumer law, judges at the EU’s Court of Justice said in a ruling on Thursday. However, they said assessments shouldn’t contest Wibor’s use as a benchmark, and lenders had no obligation to show borrowers details of how the benchmark is calculated.